
I didn't mention it earlier, but yesterday produced a small movement on the McClelland Oscillator which means that a large price move is coming today or tomorrow. One hundred points off the DOW is large, but it may not be large enough to fulfill this.
The short term oscillators are still oversold, be careful with open positions.
I’m going to recommend a couple of Mish’s articles… I STRONGLY recommend that you read them both and wrap your mind around both the employment situation and stock market valuations. His take on Price to Earnings ratios (P/E) is the correct one. Do not believe the usual claptrap about stocks being on sale, they’re not.
Again, these are two important articles (his site takes a while to load, be patient):
Is the Stock Market Cheap?
Jobs Contract 12th Straight Month
Here’s a little tuneage for the BLS… “So… so you think you can tell?”
Pink Floyd, Wish You Were Here (So You Think You Can Tell)